trending Market Intelligence /marketintelligence/en/news-insights/trending/jSRM_gahji7cV9dgmEUl1A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: IAG mulls selling SBI General Insurance stake

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Report: IAG mulls selling SBI General Insurance stake

Insurance Australia Group Ltd. is eyeing selling a stake in its joint venture with State Bank of India, SBI General Insurance Co. Ltd., Mint reported, citing two people directly aware of the development.

IAG, which owns 26% of the general insurer, has reportedly started talks to hire an investment bank that will manage the process. A source said IAG is considering off-loading the stake in multiple tranches, with a portion likely to be sold before SBI General Insurance's proposed IPO and a part in the initial share sale. IAG might also sell more of the stake over a period of time.

IAG declined to give a comment to Mint, while the State Bank of India did not immediately respond to the news outlet's request for comment.